4 Rounds of Financing, CE Mark, FDA Clearance, and a Category 1 CPT Code: How NeoTract has Grinded its Way to Success Over the Past Decade
Interview with Ted Lamson
Biz Stone, the co-founder of Twitter, has famously stated, “Timing, perseverance, and 10 years of trying will eventually make you look like an overnight success.”
In the world of medtech startups, this is almost always the case. And it’s certainly true with UroLift, a device that came to life in the fall of 2004.
In this interview with Ted Lamson, co-founder of NeoTract and primary inventor of UroLift, we learn how they achieved U.S. and European approvals, obtained a category 1 CPT code in near-record time, and their approach to convincing CMS and commercial payers to cover their device.
Interview Highlights with Ted Lamson
Ted’s experience at ExploraMed and how the idea for UroLift came to fruition.
The process Ted follows when pursuing ideas for disruptive medical devices.
Why Ted and his team at NeoTract decided to pursue a CE Mark and what they learned through that process.
Lessons learned after raising 4 different rounds of financing for NeoTract.
Against the advice of consultants, why Ted and his team decided to pursue positive guidance from NICE.
How NeoTract was able to obtain a category 1 CPT code for UroLift less than 6 months after receiving FDA clearance.
The approach Ted and his team are taking to convince CMS and commercial payers to cover UroLift.
Ted’s favorite business book, the business leaders he admires the most, and the one piece of advice he’d give to his 30-yr. old self.
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